Bentley and Bugatti will have a new CEO effective September 1 when Dr Wolfgang Schreiber takes control of both brands from current CEO Wolfgang Duerheimer.
Schreiber (pictured below), 54, will jump ship to Bentley and Bugatti from his current position as commercial vehicles chief at Volkswagen, while Durheimer, 53, will move into a new role at Audi heading technical development.
Volkswagen CEO Martin Winterkorn announced the changes along with other Volkswagen Group reshuffling at a press conference in Stuttgart on Saturday saying, "All changes are internal. It is important to have people in leadership positions who know the company".
Volkswagen has vowed to become the world's biggest and most profitable car manufacturer by 2018, with plans to overtake General Motors and Toyota by expanding deliveries across its umbrella group to 10 million units annually. In April, Volkswagen AG took ownership of iconic Italian motorcycle brand Ducati.